Identiv Appoints Sandra Wallach as Chief Financial Officer
February 16 2017 - 6:52PM
Identiv, Inc. (NASDAQ:INVE) today announced that effective
February 16, 2017, Sandra Wallach has been appointed Chief
Financial Officer (CFO) of Identiv. She will be responsible for all
accounting and finance functions at the Company. In the role,
Sandra Wallach follows Steven Finney, who has been serving as
Interim CFO since November 2015.
“Sandra’s strong operational experience as a CFO
and finance leader make her a great addition to the Identiv team.
Having implemented the business realignment and re-established
growth in our core business, our mission is to accelerate our drive
to market leadership. Highly experienced financial leadership with
proven strengths in team building and support of metric-driven
business results is critical to Identiv’s progress. Her appointment
supports our financial strategy, growth initiatives and ongoing
business optimization, and we believe that her leadership will
benefit Identiv and our stockholders,” said James Ousley, Chairman
of Identiv’s Board of Directors and Chair of the Audit
Committee.
“We’re excited to welcome Sandra to our team. Her
background in defining and implementing best in class business and
organizational processes, while operating lean and efficiently
throughout growth cycles, are ideally aligned with the business
we’re building. She brings deep experience with companies our size
and beyond to maintain our financial credibility, transparency, and
reliability, even as we expand. Her technical skills,
organizational leadership, integrity, and drive to succeed are core
elements to enable the rest of our team to focus on execution and
achieving the full potential of our business opportunity,” said
Steven Humphreys, Identiv Chief Executive Officer.
“I’m excited by the opportunity to be working with
Steve and the Identiv team,” said Sandra Wallach, Identiv Chief
Financial Officer. “The market for security technology is more
dynamic than ever, and I am looking forward to making the finance
function a key differentiator in supporting the company to take
advantage of the market opportunity in front of us.”
Prior to joining Identiv, Ms. Wallach was the VP
Finance for MiaSole, a thin film solar technology company, where
she was responsible for all aspects of accounting, insurance,
valuations, treasury, audit, and financial planning and analysis,
as well as CFO for subsidiary Global Solar. Prior to that, she
served as CFO of San Francisco-based UBM Tech, a wholly owned
subsidiary of UBM LLC, and VP Finance at Juniper Networks (from
2008 - 2011) as well as holding different financial management
positions with Intuit (2003 - 2007). Before joining Intuit, Ms.
Wallach served as CFO of General Electric’s (GE) Industrial
Systems, Drives & Controls division. Previously, she held a
range of financial and management positions since joining GE in
1986. Ms. Wallach holds a B.A. in Economics and Public Policy from
the University of California at Berkeley. She is a certified Six
Sigma Master Black Belt (GE), certified in Change Management
(DMAIC, DFSS), and has been nominated to serve as Corporate Leader
in Diversity, on Women’s Networks, and in Community Service.
Sandra Wallach takes over the role from Steven
Finney, who has served as the Company’s Interim CFO since November
18, 2015. Mr. Finney will support the transition and has agreed to
be available during the year-end audit.
“At the same time, I want to take the opportunity
to sincerely thank Steve for his dedication and contribution in
multiple Finance roles at Identiv, especially as Interim CFO,”
added Mr. Humphreys. “Steve has played a pivotal leadership role in
turning around the Company to refocus on the core business,
streamlining the Company’s operating structure, regaining financial
compliance, re-financing our debt, and supporting the team through
extremely challenging times. His positive impact is underscored by
the return to positive adjusted EBITDA in the third quarter of
2016.”
About IdentivIdentiv, Inc. is a
global provider of physical security and secure identification.
Identiv’s products, software, systems, and services address the
markets for physical and logical access control and a wide range of
RFID-enabled applications. Customers in the government, enterprise,
consumer, education, healthcare, and transportation sectors rely on
Identiv’s access and identification solutions. Identiv's mission is
to secure the connected physical world: from perimeter to desktop
access, and from the world of physical things to the Internet of
Everything. Identiv is a publicly traded company and its common
stock is listed on the NASDAQ Capital Market in the U.S. under the
symbol “INVE.” For more information, visit identiv.com.
Note Regarding Forward-Looking
InformationThis press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are those involving
future events and future results that are based on current
expectations as well as the current beliefs and assumptions of the
Company's management and can be identified by words such as
"looking forward", "believes", "will", and similar references to
the future. Any statement that is not a historical fact, including
the statements regarding the Company's expectations regarding
future operating and financial performance, the benefits of the
Company’s products, the Company’s beliefs regarding the strength of
its business and that of the industry, market positioning and
opportunity, growth in market share, and the Company’s beliefs
regarding the impact of its management team, is a forward-looking
statement. Forward-looking statements are only predictions and are
subject to several risks and uncertainties, many of which are
outside our control, which could cause actual results to differ
materially and adversely from those expressed in any
forward-looking statements. Factors that could cause actual results
to differ materially from those in the forward-looking statements
include, but are not limited to, the completion of the financial
close process and audit of the Company’s financial statements, the
Company’s ability to continue the momentum in its business, the
level of customer orders, the success of its dealer channels, the
strength of the IoT market, and factors discussed in our public
reports, including our Annual Report on Form 10-K for the year
ended December 31, 2015 and subsequent reports filed with the U.S.
Securities and Exchange Commission. All forward-looking statements
are based on information available to us on the date hereof, and we
assume no obligation to update such statements.
Investor Relations Contact:
IR@identiv.com
Media Contact:
press@identiv.com
Identiv (NASDAQ:INVE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Identiv (NASDAQ:INVE)
Historical Stock Chart
From Apr 2023 to Apr 2024